Shortly after luxury jeweler Bulgari reopened in the retail portion of the Crown Building (730 Fifth Avenue), developers announced grand plans for the floors above. Developers Michael Shvo and Vladislav Doronin bought the non-retail portions (floors 4-26) in 2015 with the intention of converting the office space to hotels and condominiums, and new details have been revealed.
Aman Resorts all over the world are known for a desire to frame their natural settings. In the case of its first New York property, that means opening on lower floors of a standout building on one of the city’s most desirable blocks. Floors 4-10 of the Crown Building will have 83 rooms and suites with minimalist furnishings and discreet, white-glove staff. The seventh through nine floors have been set aside for a luxury spa. The hotel will also offer a jazz club, cigar bar, wine library, piano bar, Aman members’ club, Japanese restaurant, and Italian restaurant.
Aman Resorts all over the world are known for a desire to frame their natural settings. In the case of its first New York property, that means opening on lower floors of a standout building on one of the city’s most desirable blocks. Floors 4-10 of the Crown Building will have 83 rooms and suites with minimalist furnishings and discreet, white-glove staff. The seventh through nine floors have been set aside for a luxury spa. The hotel will also offer a jazz club, cigar bar, wine library, piano bar, Aman members’ club, Japanese restaurant, and Italian restaurant.
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Residents of the 20 planned apartments on floors 11-26 will have access to the hotel’s services and amenities, and hotel designer Jean-Michael Gathy can be contracted to do their furnishings and interiors. Prices will start at $5.9 million for a one-bedroom measuring 1,159 square feet; another one-bedroom will include a home office and two bathrooms for $10.6 million. A three-bedroom will cost $26.6 million, and a four-bedroom apartment on a high floor will be $58.3 million. The building and price range will be topped off with a penthouse on floors 22-26 with four bedrooms, a wraparound terrace, and indoor and outdoor swimming pools that is projected to be above $100 million.
The residences are rising in an increasingly crowded category of luxury and prices that reflect it. The Crown Building is located on the eastern end of “Billionaire's Row." Downtown, the penthouse in the Woolworth Tower Residences has been listed for $110 million.
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Michelle Mazzarella
Michelle is a contributing writer and editor for real estate news in New York City
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